Venezuela defends currency targeted by U.S. sanctions

The state-owned oil company in Venezuela said Friday it welcomed a move by the president to support a currency targeted by U.S. sanctions. The U.S. Treasury Department followed through this week on an executive order signed by President Donald Trump by targeting a digital currency designed to maneuver around existing sanctions on President Nicolas Maduro ‘s Venezuela. Undeterred, the state oil company, Petróleos de Venezuela, or PDVSA, said through its official Twitter account that Maduro has continued to support the cryptocurrency. “President Maduro authorizes PDVSA collection of exports in petro,” the company said. Washington already imposed sanctions on the Venezuelan government and military officials in December in response to allegations of corruption and repression under the Maduro administration. U.S. Treasury Secretary Steven […]